U.S. Dollar Advances In Cautious Trade

The U.S. dollar climbed against its major counterparts in the European session on Wednesday, as optimism over a slowdown in the pace of the Federal Reserve's monetary policy tightening receded.

U.S. treasury yields rose, with the benchmark yield on 10-year note touching 3.71 percent. Yields move inversely to bond prices.

The Reserve Bank of New Zealand delivered a 50 basis point hike, dampening expectations for a softening of an aggressive stance by central banks.

ADP will release private sector jobs report for September at 8:15 am ET. Economists expect private sector employment to increase by 200,000 jobs in September, after a gain of 132,000 jobs in August.

Friday's U.S. non-farm payrolls report could offer more clues on the Fed's rate hike trajectory in the future.

The greenback advanced to 144.56 against the yen and 1.1360 against the pound, after declining to a 9-day low of 143.53 and near a 3-week low of 1.1495, respectively in early deals. The greenback is seen finding resistance around 146.00 against the yen and 1.10 against the pound.

The greenback appreciated to 0.9911 against the euro and 0.9849 against the franc, off its early lows of 0.9995 and 0.9785, respectively. The greenback is likely to find resistance around 0.96 against the euro and 1.02 against the franc.

The greenback edged up to 1.3599 against the loonie and 0.6460 against the aussie, from its prior lows of 1.3503 and 0.6526, respectively. The greenback may face resistance around 1.38 against the loonie and 0.62 against the aussie.

The greenback rose to 0.5706 against the kiwi, from near a 2-week low of 0.5805 seen in the previous session. If the currency rises further, 0.55 is likely seen as its next resistance level.

Looking ahead, ADP private sector employment data for September is scheduled for release at 8:15 am ET.

U.S. and Canadian trade data for August and ISM non-manufacturing composite index for September are set for release in the New York session.

US Dollar vs CHF (FX:USDCHF)
FXチャート
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